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HomeIndiaadani group share price, bounce back Adani group; Shares skyrocket, know...

adani group share price, bounce back Adani group; Shares skyrocket, know the performance of Adani Group shares – adani group share price 4 highest circuit hit group shares, adani ventures surgesNews WAALI

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News Waali latest news updates.

Mumbai: The Adani Group led by Gautam Adani is once again trying its best to win the confidence of investors. Adani Group is repaying its debt early after an explosive report by Hindenburg Research Now Adani Group on Sunday said it has repaid its entire equity loan of $2.65 billion (Rs 21,700 crore) early. The group said it had paid off the loan before the March 31, 2023 deadline.

News of early loan repayments has helped restore investor confidence in Adani group companies.

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Adani share status
Shares of three companies of the Gautam Adani group were on the highest circuit by 5 percent in early trade on Monday. Shares of Adani Transmission Limited were trading at Rs 949 while Adani Total Gas was trading at Rs 997 and Adani Green Energy was trading at Rs 716. Shares of Adani Power Ltd were trading at Rs 214, while shares of Adani Enterprises Ltd gained Rs 41 to trade at Rs 1,937. Apart from this, shares of Adani Wilmar rose slightly and shares of Abuja Cement were also trading slightly faster on Monday morning. Shares of Adani Ports, ACC Ltd and NDTV were marginally lower in early trade on Monday.

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Meanwhile, Adani Group earlier on March 12 said it has repaid a Rs 2.65 billion loan ahead of schedule. The deadline for repayment of the company’s loan was 31 March 2023. Apart from this, the promoters have also repaid the USD 500 billion bridge loan taken for the acquisition of Abuja Cement. A bridging loan is taken out to repay a larger loan.

Adani Group said that the promoters wanted to increase the equity contribution and this step was taken in this direction. Of the $6.6 billion loan taken for the acquisition of Abuja and ACC Cements, the promoters have repaid $2.6 billion. Adani Group said, ‘Prepayment work has been completed in 6 weeks. This shows that the company has enough cash. Funding is also organized at sponsor level.

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Adani Group acquired Holcim Group’s entire stake in Ambuja Cement and ACC Cement for $10.5 billion. This was the Adani Group’s largest acquisition to date. It was also India’s largest merger and acquisition in the infrastructure and materials sector. Holcim sold 63.19% stake in Abuja Cement and 54.53% stake in ACC. Of the total 54.53 percent shareholding in ACC, 50.5 percent was held through Ambuja Cement.

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Adani Group’s business spans from ports to power business. However, after the Hindenburg report came out on January 24, the company’s shares continued to fall sharply. However, American investment firm GQG recently invested a whopping amount of Rs 15,446 in the Adani Group. After that, their shares have seen a rebound once again. Since then, the shares of some companies in the group have been steadily increasing. Rajeev Jain, chairman and CEO of GQG Partners, had announced on March 8 that he would invest more in the Adani Group.


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